Oswal Pumps gains as its arm gets nod to set up 1.2 GW TOPCon solar cell manufacturing facility
Oswal Pumps is currently trading at Rs. 256.00, up by 1.95 points or 0.77% from its previous closing of Rs. 254.05 on the BSE.
The scrip opened at Rs. 259.90 and has touched a high and low of Rs. 266.05 and Rs. 256.00 respectively. So far 13153 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 789.95 on 10-Oct-2025 and a 52 week low of Rs. 250.85 on 09-Oct-2026.
Last one week high and low of the scrip stood at Rs. 268.95 and Rs. 250.85 respectively. The current market cap of the company is Rs. 2947.03 crore.
The promoters holding in the company stood at 75.65%, while Institutions and Non-Institutions held 5.56% and 18.79% respectively.
Oswal Pumps’ wholly owned subsidiary -- Oswal Solar Energy (OSEPL) has received board’s approval to set up a 1.2 GW solar cell manufacturing facility based on TOPCon (Tunnel Oxide Passivated Contact) technology. The board of directors of OSEPL in its meeting held on October 10, 2026, inter-alia, approved the same.
The commercial production is expected to commence by April 2028. The entire output is intended for captive consumption by OSEPL's in-house solar module lines. It is intended to secure a steady, reliable supply of DCR cells and reduce the company's exposure to spot-market price volatility and supplier-driven commercial terms. It will also extend OSEPL's value addition from module assembly into cell manufacturing. Together, these benefits are expected to strengthen the group's cost structure, competitive positioning in Government-backed programmes, and profitability at the consolidated level over time.
The total project cost is estimated at around Rs 456 crore. Of this, about Rs 296 crore is proposed to be funded through debt. The balance of Rs 159.85 crore is proposed to be funded from the unutilised IPO proceeds of Rs 163.04 crore, which were originally earmarked for the Aluminium Frame Facility, the remaining 300 MW EVA Encapsulant Facility and the remaining 500 MW Solar Module Facility through infusion in OSEPL. It is proposed to deploy the Net Proceeds towards the said solar cell manufacturing facility by Financial Year 2028.
